Nortel has finally completed the sale of its UMTS business unit to Alcatel-Lucent (Isn’t it time for a new name yet?) for $320-million in cash – “less significant deductions and transaction related costs” (How much is “significant”?). Just out of curiosity, does AL simply wire the money into Nortel’s bank account, or does Patricia Russo write a check to Nortel CEO Mike Zafirovski, or does Brinks roll up to Nortel’s corporate HQ and drop off a few dozen bags of cash?
The Deal is Done!
Nortel has finally completed the sale of its UMTS business unit to Alcatel-Lucent (Isn’t it time for a new name yet?) for $320-million in cash – “less significant deductions and transaction related costs” (How much is “significant”?). Just out of curiosity, does AL simply wire the money into Nortel’s bank account, or does Patricia Russo write a check to Nortel CEO Mike Zafirovski, or does Brinks roll up to Nortel’s corporate HQ and drop off a few dozen bags of cash?
Technorati Tags: M&A